Royce Small-Cap Trust (NYSE: RVT) as of May 31, 2025
Royce Small-Cap Trust (NYSE: RVT), the oldest and largest small-cap closed-end fund, reported its performance metrics as of May 31, 2025. The fund's NAV stood at $16.33 while its market price was $14.86. Year-to-date performance showed a decline of -1.91% (NAV) and -4.01% (market price), though the one-year returns were positive at 3.93% and 8.59% respectively.
The fund manages $1.94B in net assets, primarily investing in small- and micro-cap companies with an average market cap of $2962.1M. The portfolio maintains a weighted average P/E of 17.6x and P/B of 2.0x. Top sectors include Industrials (23.8%) and Financials (23.5%), with IES Holdings being the largest position at 1.7% of net assets.
Royce Small-Cap Trust (NYSE: RVT), il fondo chiuso di piccole capitalizzazioni più antico e grande, ha riportato le sue metriche di performance al 31 maggio 2025. Il NAV del fondo era di $16,33 mentre il prezzo di mercato si attestava a $14,86. La performance da inizio anno ha mostrato un calo del -1,91% (NAV) e del -4,01% (prezzo di mercato), anche se i rendimenti su base annua sono stati positivi, rispettivamente al 3,93% e all'8,59%.
Il fondo gestisce $1,94 miliardi in attività nette, investendo principalmente in società small e micro-cap con una capitalizzazione media di mercato di $2962,1 milioni. Il portafoglio mantiene un P/E medio ponderato di 17,6x e un P/B di 2,0x. I settori principali includono Industriali (23,8%) e Finanziari (23,5%), con IES Holdings come posizione più rilevante, rappresentando l'1,7% delle attività nette.
Royce Small-Cap Trust (NYSE: RVT), el fondo cerrado de pequeña capitalización más antiguo y grande, reportó sus métricas de desempeño al 31 de mayo de 2025. El valor liquidativo (NAV) del fondo fue de $16.33 mientras que su precio de mercado fue de $14.86. El desempeño acumulado en el año mostró una caída de -1.91% (NAV) y -4.01% (precio de mercado), aunque los retornos a un año fueron positivos, con 3.93% y 8.59% respectivamente.
El fondo administra $1.94 mil millones en activos netos, invirtiendo principalmente en compañías de pequeña y micro capitalización con una capitalización promedio de mercado de $2962.1 millones. La cartera mantiene un P/E ponderado promedio de 17.6x y un P/B de 2.0x. Los principales sectores incluyen Industriales (23.8%) y Financieros (23.5%), siendo IES Holdings la posición más grande con un 1.7% de los activos netos.
Royce Small-Cap Trust (NYSE: RVT)는 가장 오래되고 규모가 큰 스몰캡 폐쇄형 펀드로, 2025년 5월 31일 기준 성과 지표를 보고했습니다. 펀드의 순자산가치(NAV)는 $16.33였으며 시장 가격은 $14.86였습니다. 연초 대비 성과는 NAV 기준 -1.91%, 시장 가격 기준 -4.01% 하락했으나, 1년 수익률은 각각 3.93%와 8.59%로 긍정적이었습니다.
이 펀드는 19억 4천만 달러의 순자산을 운용하며, 평균 시가총액 29억 6,210만 달러의 스몰 및 마이크로캡 기업에 주로 투자합니다. 포트폴리오는 가중평균 P/E 17.6배, P/B 2.0배를 유지하고 있습니다. 주요 섹터는 산업재(23.8%)와 금융(23.5%)이며, IES Holdings가 순자산의 1.7%로 가장 큰 비중을 차지하고 있습니다.
Royce Small-Cap Trust (NYSE : RVT), le fonds fermé de petites capitalisations le plus ancien et le plus important, a publié ses indicateurs de performance au 31 mai 2025. La valeur liquidative (NAV) du fonds s’élevait à 16,33 $ tandis que son prix de marché était de 14,86 $. La performance depuis le début de l’année affichait une baisse de -1,91 % (NAV) et -4,01 % (prix de marché), bien que les rendements sur un an soient positifs à 3,93 % et 8,59 % respectivement.
Le fonds gère 1,94 milliard de dollars d’actifs nets, investissant principalement dans des sociétés de petites et micro-capitalisations avec une capitalisation moyenne de 2 962,1 millions de dollars. Le portefeuille présente un ratio cours/bénéfice moyen pondéré de 17,6x et un ratio cours/valeur comptable de 2,0x. Les principaux secteurs sont les industriels (23,8 %) et les financiers (23,5 %), IES Holdings étant la plus grande position avec 1,7 % des actifs nets.
Royce Small-Cap Trust (NYSE: RVT), der älteste und größte Small-Cap Closed-End-Fonds, meldete seine Leistungskennzahlen zum 31. Mai 2025. Der NAV des Fonds lag bei 16,33 $, während der Marktpreis bei 14,86 $ lag. Die Jahresperformance zeigte einen Rückgang von -1,91 % (NAV) und -4,01 % (Marktpreis), wobei die Einjahresrenditen mit 3,93 % bzw. 8,59 % positiv ausfielen.
Der Fonds verwaltet 1,94 Mrd. $ an Nettovermögen und investiert hauptsächlich in Small- und Micro-Cap-Unternehmen mit einer durchschnittlichen Marktkapitalisierung von 2.962,1 Mio. $. Das Portfolio weist ein gewichtetes durchschnittliches KGV von 17,6x und ein KBV von 2,0x auf. Die wichtigsten Sektoren sind Industrie (23,8 %) und Finanzen (23,5 %), wobei IES Holdings mit 1,7 % des Nettovermögens die größte Position darstellt.
- Strong long-term performance with 12.02% NAV and 13.18% market price returns over 5 years
- Significant trading volume averaging 1,016,636 shares weekly indicates high liquidity
- Well-diversified portfolio across sectors reduces risk
- Fund advisor brings over 50 years of small- and micro-cap investment experience
- Negative year-to-date performance of -1.91% NAV and -4.01% market price
- Trading at a discount to NAV (market price $14.86 vs NAV $16.33)
- 15% of portfolio holdings have zero or negative earnings
- Higher risk profile due to focus on small-cap and micro-cap companies
- Oldest and largest small-cap closed-end fund
- Average weekly trading volume of approximately 1,016,636 shares
- Fund's adviser has more than 50 years of small- and micro-cap investment experience
CLOSING PRICES AS OF 05/31/25 | |
NAV | 16.33 |
MKT | 14.86 |
AVERAGE ANNUAL TOTAL RETURN AS OF 05/31/25 | NAV (%) | MKT (%) |
One-Month* | 6.80 | 6.52 |
Year to Date* | -1.91 | -4.01 |
One-Year | 3.93 | 8.59 |
Three-Year | 8.58 | 7.61 |
Five-Year | 12.02 | 13.18 |
10-Year | 8.96 | 9.45 |
*Not Annualized
Important Performance and Expense Information
All performance information reflects past performance, is presented on a total return basis, net of the Fund's investment advisory fee, and reflects the reinvestment of distributions. Past performance is no guarantee of future results. Current performance may be higher or lower than performance quoted. Returns as of the recent month-end may be obtained at www.royceinvest.com. The market price of the Fund's shares will fluctuate, so that shares may be worth more or less than their original cost when sold.
The Fund invests primarily in securities of small-cap and micro-cap companies, which may involve considerably more risk than investing in larger-cap companies. The Fund's broadly diversified portfolio does not ensure a profit or guarantee against loss. From time to time, the Fund may invest a significant portion of its net assets in foreign securities, which may involve political, economic, currency, and other risks not encountered in
PORTFOLIO DIAGNOSTICS | |
Average Market Cap1 | |
Weighted Average P/E2 | 17.6x |
Weighted Average P/B2 | 2.0x |
Net Assets |
1Geometric Average: This weighted calculation uses each portfolio holding's market cap in a way designed to not skew the effect of very large or small holdings; instead, it aims to better identify the portfolio's center, which Royce believes offers a more accurate measure of average market cap than a simple mean or median.
2Harmonic Average: This weighted calculation evaluates a portfolio as if it were a single stock and measures it overall. It compares the total market value of the portfolio to the portfolio's share in the earnings of its underlying stocks.
The Price-Earnings, or P/E, ratio is calculated by dividing a company's share price by its trailing 12-month earnings-per-share (EPS). The Fund's P/E ratio calculation excludes companies with zero or negative earnings (
The Price-to-Book, or P/B, Ratio is calculated by dividing a company's share price by its book value per share.
Portfolio Composition
TOP 10 POSITIONS | % OF NET ASSETS (SUBJECT TO CHANGE) |
IES Holdings | 1.7 |
Assured Guaranty | 1.5 |
SEI Investments | 1.4 |
E-L Financial | 1.4 |
PAR Technology | 1.3 |
Universal Technical Institute | 1.2 |
APi Group | 1.1 |
International General Insurance Holdings | 1.0 |
TMX Group | 1.0 |
TransMedics Group | 1.0 |
TOP FIVE SECTORS | % OF NET ASSETS (SUBJECT TO CHANGE) |
Industrials | 23.8 |
Financials | 23.5 |
Information Technology | 14.1 |
Health Care | 10.1 |
Consumer Discretionary | 9.5 |
Recent Developments
Royce Small-Cap Trust is a closed-end diversified management investment company whose shares of Common Stock (RVT) are listed and traded on the New York Stock Exchange. Its primary investment goal is long-term capital growth, which it seeks by investing at least
Daily net asset values (NAVs) for Royce Small-Cap Trust are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XRVTX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at www.royceinvest.com.
An investor in Royce Small-Cap Trust should consider the Fund's investment goals, risks, fees, and expenses carefully before investing.
Important Disclosure Information
Closed-End Funds are registered investment companies whose shares of common stock may trade at a discount to their net asset value. Shares of each Fund's common stock are also subject to the market risks of investing in the underlying portfolio securities held by the Fund. Royce Fund Services, LLC. ("RFS") is a member of FINRA and has filed this material with FINRA on behalf of each Fund. RFS does not serve as a distributor or as an underwriter to the closed-end funds.
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SOURCE Royce Small Cap Trust
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